A bond has a coupon rate of 6%, a face value of $1,000, and a maturity of 12 years. If the yield to maturity is 5%. What is the market price of the bond?     1,087.91     1089.42     1088.63

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter4: Bond Valuation
Section: Chapter Questions
Problem 8MC: Suppose a 10-year, 10% semiannual coupon bond with a par value of 1,000 is currently selling for...
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A bond has a coupon rate of 6%, a face value of $1,000, and a maturity of 12 years. If the yield to maturity is 5%. What is the market price of the bond?

   

1,087.91

   

1089.42

   

1088.63

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